Prelude Therapeutics (NASDAQ:PRLD) Upgraded at HC Wainwright

HC Wainwright upgraded shares of Prelude Therapeutics (NASDAQ:PRLD) from a hold rating to a strong-buy rating in a research note published on Thursday, Zacks.com reports.

Several other equities research analysts have also commented on PRLD. JMP Securities restated a market outperform rating and issued a $7.00 price objective on shares of Prelude Therapeutics in a research note on Monday, September 16th. Barclays downgraded Prelude Therapeutics from an equal weight rating to an underweight rating and set a $3.00 price objective on the stock. in a research note on Thursday, June 20th.

Prelude Therapeutics Stock Performance

Shares of NASDAQ:PRLD opened at $2.55 on Thursday. The stock’s 50-day simple moving average is $5.10 and its two-hundred day simple moving average is $4.47. The stock has a market capitalization of $140.30 million, a price-to-earnings ratio of -1.36 and a beta of 1.52. Prelude Therapeutics has a 52-week low of $1.66 and a 52-week high of $6.80.

Prelude Therapeutics (NASDAQ:PRLD) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.46) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.46). As a group, equities analysts forecast that Prelude Therapeutics will post -1.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Pale Fire Capital SE raised its holdings in Prelude Therapeutics by 106.6% during the fourth quarter. Pale Fire Capital SE now owns 63,581 shares of the company’s stock valued at $271,000 after acquiring an additional 32,800 shares during the period. Boxer Capital LLC raised its stake in Prelude Therapeutics by 2.9% during the 4th quarter. Boxer Capital LLC now owns 2,568,287 shares of the company’s stock valued at $10,967,000 after purchasing an additional 73,269 shares during the period. Vanguard Group Inc. lifted its holdings in Prelude Therapeutics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,016,999 shares of the company’s stock worth $4,821,000 after purchasing an additional 10,143 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Prelude Therapeutics by 42.7% in the 1st quarter. Acadian Asset Management LLC now owns 22,110 shares of the company’s stock worth $104,000 after purchasing an additional 6,615 shares during the period. Finally, Kennedy Capital Management LLC purchased a new stake in Prelude Therapeutics during the 1st quarter valued at approximately $119,000. Hedge funds and other institutional investors own 79.72% of the company’s stock.

About Prelude Therapeutics

Prelude Therapeutics Incorporated, a clinical-stage biopharmaceutical company, focuses on the discovery and development of novel precision cancer medicines to underserved patients. It is developing PRT1419, a myeloid cell leukemia-1 inhibitor, which is in Phase 1 clinical trial for the treatment of selected relapsed/refractory myeloid or B-cell malignancies; PRT2527, a cyclin-dependent kinase, which is in Phase 1 clinical trial for the treatment of advanced solid tumors; PRT3645, a cyclin-dependent kinase 4/6 inhibitor, which is in Phase 1 clinical trial for the treatment of advanced and metastatic solid tumors; and PRT3879, a SMARCA2 selective protein degrader, which is in Phase 2/3 clinical trial for the treatment of advanced and metastatic solid tumors with loss of SMARCA4 due to truncating mutation and/or deletion.